The purchase of medical equipment is one of the highest costs associated with an expanding clinic. To cater to more patients, you will need to add equipment, and additional nurses or technicians to operate it.
Keep up with advancements in healthcare and give your patients the latest treatments.Invest in technological upgrades for your existing equipment to improve the accuracy of your diagnoses, or to add to the services you offer.
Digitise your systems with hospital management software and electronic health records to make patient paperwork easier for your staff. You may also want to hire additional nurses to keep up with more of patients.
Keep your pharmacy well stocked with generic and specialised medications that you often prescribe to your patients. Offer them the convenience of filling their prescriptions on the spot instead of having to visit a chemist separately.
3 unique variants of our doctor loan
Flexi Term Loan
Consider that you obtain a Rs. 8 lakh loan with a 24-month term. You pay the EMI on time for the first six months. You should have paid back roughly Rs. 2 lakh plus interest by this point.
Now, you need an additional Rs. 3 lakh. You can sign-in to My Account to withdraw funds from your Flexi Term Loan account. Let’s say you decide to pay off a portion of your loan three months later. Once again, sign-in to My Account and make the payment.
Your interest has been automatically adjusted throughout, and you are paying interest only on the amount that is now due.
A modern-day practice demands dynamicism and may need quick investments. A Flexi Term Loan is perfect for such uses.
Flexi Hybrid Loan
This alternative functions just like the Flexi Term Loan. The main distinction is that, for the loan’s initial period — which may vary depending on the loan’s tenure — your EMI will solely be made up of the interest applicable.
Click here for a detailed description of how our Flexi Hybrid Loan works.
This loan is similar to the regular loans. You can take out a loan for a specific sum of money, which is then divided into equal monthly payments that include both the principal and the interest.
There is a pre-payment charge for repaying your Term Loan before the end of the tenure.
Features and benefits of our doctor loan
All you need to know about our doctor loan
Watch this video to know everything about the features of our doctor loan.
3 unique variants
We have 3 new unique variants – Term Loan, Flexi Term Loan, Flexi Hybrid Loan. Choose the loan variant that works best for you.
No part-prepayment charge on Flexi variants
With Flexi variants, you can borrow as many times as you want to and part-prepay whenever you can. No extra charges.
Loan of up to Rs. 55 lakh
Get loans from Rs. 2 lakh to Rs. 55 lakh to manage your small/ large expenses. Available through an end-to-end online application process.
Convenient tenures of up to 8 years
Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.
Money in your bank account in 48 hours*
In most cases, you will get your doctor loan credited to your bank account within 48 hours* of approval.
No hidden charges
All the fees and charges are clearly mentioned on this page and in your loan documents. Please read these in detail.
No collateral required
You do not have to provide any collateral or security such as gold ornaments or property to get our doctor loan.
End-to-end online application process
You can apply for our doctor loan anytime, from the comfort of your home or from wherever you are.
*Terms and conditions apply
Eligibility criteria and documents required
Any doctor can apply for our doctor loan, as long as you meet four basic criteria mentioned below. You will also need a set of documents to complete the application process.
- Nationality: Indian
- Age: 22 years to 73 years*
- CIBIL Score: 685 or higher
- Medical registration: Degree to be registered with the medical council
*Age should be 73 years or less at the end of your tenure.
- KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- PAN card
- Medical registration certificate
*Additional documents required, if any, will be communicated during the application process.
Loan application process for doctors
Doctor loan interest rates and applicable charges
|Types of fees
|Rate of interest
|11% - 22% per annum
|Up to 2.95% of the loan amount (inclusive of applicable taxes)
|Up to Rs. 2,360/- (inclusive of applicable taxes)
Term Loan: Not applicable
*The Flexi charges above will be deducted upfront from the loan amount.
*Loan amount includes approved loan amount, insurance premium, VAS charges and documentation charges.
• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of full such prepayment
• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment
• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full such prepayment
• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment
• Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan
|Annual maintenance charges
|Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges
Flexi Hybrid Loan:
• Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure
• Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure
|In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
|Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
|Stamp duty (as per respective state)
|Payable as per state laws and deducted upfront from the loan amount
|Mandate rejection service charges
|Rs. 450/- per month from the first month of due date for mandate rejected by customer’s bank until the new mandate is registered
|Broken period interest/ pre-EMI interest
|Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s), which is (are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Deducted from the loan disbursement
• For Flexi Term Loan: Added to the first instalment
• For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
|Up to 1.18% of the loan amount (inclusive of applicable taxes)
(Switch fee is applicable only in case of switch of loan. In switch cases, processing fees and documentation charges will not be applicable.)
Frequently asked questions
The Flexi Term Loan facility is a unique financial offering that lets you withdraw and prepay funds from your loan limit as per your requirement
In Flexi Hybrid Loans, you are charged interest only on the amount you utilise, and you have the option to reduce your EMIs during the initial tenure.
Your loan account statement, your repayment schedule, and all other details of your doctor loan are available on our customer portal, My Account. In fact, you can see details of all your previous transactions with Bajaj Finserv under the My Relations tab on the customer portal.
Bajaj Finserv offers doctor loans of up to Rs. 55 lakh. You can check the doctor loan amount pre-approved for you by sharing a few basic details with us. Alternatively, you can enter your details in the online form and apply for a doctor loan.
A Flexi Hybrid Loan and a Term Loan are two variants of doctor loans offered by Bajaj Finserv.
A Term Loan is a regular doctor loan, where you avail of the amount you need and repay it over the loan tenure. Your instalments comprise an interest component and a principal component, and the EMI amount remains fixed throughout the tenure.
The Flexi Term Loan is a smart loan option that gives you access to a loan limit that you can withdraw from and repay as per your convenience. With the Flexi Hybrid Loan, you have the option of interest-only EMIs for the initial part of the tenure.
As the name suggests, the Flexi variants are more flexible, and offer you the chance to reduce the burden of loan repayments.
If you are a pre-approved customer of Bajaj Finserv, you can check your doctor loan offer by entering your name and phone number here. With pre-approved offers of up to Rs. 55 lakh, applying for a doctor loan is quick and easy.
If you are new to Bajaj Finserv, you can apply for a doctor loan by filling up the online application form and submitting your KYC and other documents. Make sure you read about the documents required and the eligibility criteria before applying for a doctor loan.